Spot ETH ETF to Launch on This Date — Report | Key Points | July 17, 2024

By admin On Jul 17, 2024 3 0

GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s recap: Ethereum.

Here are the latest crypto news stories in the last 24 hours.

Market Analysis and Updates 📈

Crypto Price Update

Here are the crypto highlights of the day:

Bitcoin (BTC): $65,902.98, up 2.5% over the last 24 hours.
Ethereum (ETH): $3,503.88 up 1.3% over the last 24 hours.
Solana (SOL): $162.07, up 2.4% vs the previous day.

Altair: $0.05379, up 296.3% vs the previous day.
Mochi: $0.00002, up 74.3% over the last 24 hours.
Hoppy: $0.00010, down 10.6% vs the previous day.

For the daily price update, check out our post on Facebook.

📺 This Thursday: BitPinas Webcast with Coins and Sky Mavis!

Photo for the Article - Spot ETH ETF to Launch on This Date -- Report | Key Points | July 17, 2024

Join us in the next BitPinas webcast featuring Wei Zhou, the CEO of Coins .ph, and Jeff Zirlin, the Co-Founder of Sky Mavis, as they discuss the launch of PHPC (Peso Stablecoin) on the Ronin blockchain!

Feature News: SEC Greenlights Spot Ether ETFs for Trading on July 23 – Report

The SEC has given preliminary approval for at least three companies to launch spot Ether ETFs. Trading is expected to begin on July 23.

What’s the significance: This is a big step for the cryptocurrency industry, making digital assets more accessible to mainstream investors, Cointelegraph and Reuters reported.

This could also start the ETH bull run, people are expecting.

Previously: Earlier this year, spot Bitcoin ETFs launched successfully, drawing significant investment. Now, Ether, the second-largest cryptocurrency, is following suit.

By the numbers:

Ether Price: Currently $3,503.88, up 7.1% today and 14.4% over the past week.
Bitcoin Market Value: Over $1 trillion.
Ether Market Value: $359 billion.

Companies must submit final documents to the SEC by the end of this week. If approved, trading will start on July 23.

What to watch:

Ether’s price might fluctuate leading to the date.
Experts predict more modest investments in Ether ETFs compared to Bitcoin ETFs.

What’s next: If granted, the ETFs will be listed on major exchanges like Nasdaq and the New York Stock Exchange.

Philippine Crypto News 🇵🇭

YGG execs highlight importance of digital literacy during YGG PH Roadtrip event.
ICP Hub PH announced that its co-founder Nelson Lumbres will be speaking at the World of Consumer Electronics Expo on Aug. 7-10.
The Philippines ranked 6th in the submissions for the Superteam Talent Olympics.

Educational Corner 🎓

While Telegram games are still on the rise, check out BitPinas’ new guide on Dogs.

It is a rising game in the TG Mini-Apps Ecosystem that allows users to earn $DOGS tokens just by having a Telegram account.

Regulation Watch 📜

Stay informed about the latest regulatory updates and what they mean for you:

Hong Kong‘s Financial Services and the Treasury Bureau will soon publish the results of a consultation on stablecoin issuers, aiming to establish a legislative framework that includes licensing requirements and regulatory measures for stablecoin issuers.
Hong Kong police arrested three individuals for allegedly swindling a businessman out of HK$3.11 million in Tether coins using bundles of fake HK$1,000 banknotes.
Former President Donald Trump has selected pro-crypto Ohio Senator J.D. Vance as his vice presidential candidate.

Community Spotlight 🔦

Meet Gabby Dizon: He co-founded Yield Guild Games (YGG), a web3 gaming guild focused on blockchain-based economies and slowly transitioning into a web3 gaming protocol.

He is a game industry veteran with over 20 years of experience.
He recently discussed the importance of digital literacy during the final leg of the YGG Roadtrip in Manila.

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

Bima Labs, a developer of the Bitcoin-backed stablecoin USBD, raised $2.25 million in a seed funding round; the funds will support Bima’s plans to launch USBD’s mainnet and governance token.
Fracton Ventures announced DAO TOKYO 2024, an event scheduled for August 21-22, 2024, at Tokyo’s Kanda Myojin Shrine, aimed at advancing Japan’s leadership in web3 technology and DAOs.
Solana Superteam and DroppGroup formed a strategic partnership aimed at advancing Web3 adoption and digital technology in Saudi Arabia.
Zeebu, a web3 payment platform, plans to launch the ZBU…